5 Ways To Boost Sales Through Customer Loyalty Programs
By: IT Admin
Loyalty programs enable you to retain your best customers while growing your business. The first step to creating a devoted clientele is to keep your customers satisfied. Customer satisfaction is necessary for repeat business, but it can only go so far. To increase customer loyalty as well as boost customer recommendations and endorsements, you need to provide something. Keeping your customers satisfied and rewarded at the same time motivates them to keep doing business with you (and not with your competitor).
Keep in mind that your reward programs must be designed to reward certain behaviors. Showing your customers you appreciate their business should also be profitable, with specific objectives in mind. Once you’ve established your goals, it’s time to design a scheme that would generate the customer behavior you’re after. Here are some loyalty marketing schemes that you can try depending on what you would like your customer to do:
If you want to increase store traffic, Bring-a-Friend is an easy and straightforward approach. You can offer discounts, freebies, and special deals to your customer and the friend in tow. Shopping with a friend not only opens your store to previously untapped potential customers, but also increases your sales because people tend to spend more when shopping with a friend.
- Product Bundling Strategy
Product bundling allows you to sell multiple products as one item. If you want your customer to leave your store with more purchases than they came in for, offering a bargain price for a package deal is a very effective method. Bundling adds value to your customer’s purchase and puts more profits in your pocket.
Points Programs are simple: earn a certain number of points and cash them in for goods or prizes. The beauty of this program is it will keep your customers coming back, especially if the items up for grabs are exclusive to your store, or if they can use their points toward future purchases. You are not only rewarding your customers; they also feel they are rewarding themselves when it comes time to redeem.
- Loyalty Cards and Loyalty Badges
For a minimum fee or minimum purchase, you can give loyalty cards or badges to your customers. Loyalty cards are easy to keep, and badges are a fun and inexpensive way to show you appreciate their business. What’s more, you customers simply need to present their badge or card on their next purchase, and avail of exclusive offers and discounts just for them. Dandy.com.au
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Providing discount coupons to customers who are already buying from you encourages them to spend more at your store. Customers are tickled by the idea of paying less for purchases, and giving them more bang for their buck allows them to buy more from you.
Whatever your strategy is, providing worthwhile incentives remains a key in building long-term relationships with your customers.